Commercialisation of Innovation
The Eureka Prize for Commercialisation of Innovation is sponsored by Rio Tinto.
The Rio Tinto Eureka Prize for Commercialisation of Innovation is awarded to an individual, group or organisation for the commercialisation of an innovation within the past 10 years that can be shown to have created significant value within Australia during that time.
Commercialising new knowledge quickly is critical for competitive advantage.
Commercialisation is the key to the reinvention of organisations and the basis for the creation of new knowledge-based enterprises.
The Rio Tinto Eureka Prize for Commercialisation of Innovation seeks to reward those who have successfully commercialised a new idea, knowledge or invention that has created significant commercial value within Australia. Value, in this instance, could include acceptable returns to capital providers, employment creation, payment to local suppliers, taxes to the Australian Government etc.
The Rio Tinto Eureka Prize for Commercialisation of Innovation seeks to reward the creator of the value from the innovation, that is, the entity responsible for the commercialisation of the new idea, knowledge or invention.
Joint applications between the knowledge creator and the commercialisation entity are encouraged. For example, between the scientist and university spin-off company; a joint venture between a university and a corporation or a successful ARC linkage partnership.
Entries should specifically address the following judging criteria:
1) Proof of revenue or enhanced profitability since commercialisation
2) Evidence of reinvestment in Australia
3) Demonstration of ongoing commitment to Australia
4) Demonstration of commitment to social and environmental best practice. For example best practice in safety, product stewardship, environmental sustainability, social responsibility etc.
5) Quality of Assessor Reports
The prize is open to individuals, groups or organisations.
Entrants can either enter themselves or be nominated by others. If nominating an entrant, please ensure they have the opportunity to provide input to the documentation provided in support of their nomination.
The innovation must have been commercialised no more than ten (10) years prior to the closing date for entries.
You must submit an online entry form including all supporting documentation by midnight AEST Friday 4 May 2012 to be eligible for this prize.
Entries with insufficient sets of supporting documentation will not be considered.
Submitted material will not be returned.
Any entries received after midnight AEST Friday 4 May 2012 will not be considered.
Hard-copy applications will not be considered.
The activity entered for this prize may not be entered for another Australian Museum Eureka Prize in the same year.
The deliberations of the judging panel remain confidential. All recommendations and decisions taken are binding and final and no correspondence will be entered into on such matters.
Information provided by the entrant(s) in relation to the Australian Museum Eureka Prizes (including photos), may be used by the Australian Museum for promotional/publicity purposes. This may include, and is not restricted to, the information being used on websites, social media, printed material, advertisements, press releases etc.
Personal information provided in connection with the Australian Museum Eureka Prizes will be used only by the Australian Museum and only in connection with the Australian Museum Eureka Prizes.
STEP 1. You must prepare one document that contains the following information:
a) Activity Summary: an account of the commercialisation process from conception to market, describing how it was achieved (two page maximum)
b) Judging Criteria: a brief description of how the entrant's activity addresses each of the judging criteria (two page maximum)
c) Assessor Reports: a minimum of one (1) and a maximum of four (4) written reports addressing each of the judging criteria from assessors who are familiar with the entered research (two page maximum per report). NOTE: Judges rely on assessor's reports to provide additional perspective and informed opinion on entries. Therefore, assessors should not be personally or directly involved in the activity entered in this prize.
This document can be uploaded in Microsoft Word (.doc) or Adobe Acrobat (.pdf) format.
STEP 2. Submit an online entry form by midnight AEST Friday 4 May 2012
Complete the online entry form which must include your supporting document and submit by midnight AEST Friday 4 May 2012.
If you require further information or help, please call the Australian Museum Eureka Prizes on +61 2 9320 6483 or email email@example.com.